I was so honored and pleased to be part of the The Seller Finance Coalition first annual fly-in event July 18th and 19th in our Nation’s Capital. What an impact we made! There was close to 40 attendees from all over the country on Capitol Hill for a day and a half telling the story of how seller financing can impact consumer’s ability to become homeowners as well as its effect on stabilizing neighborhoods.

The theme of affordable housing and providing access to private capital in underserved markets such as inner cities and rural communities was well received from members of Congress on both sides of the aisle.

The group had an experience to remember as we heard from four Congressmen and one U.S. Senator on their latest on where they stand on regulatory relief and their support of The Seller Finance Enhancement Act known as H.R. 1360.

The event also included panel discussions as well as meeting with over 70 Congressional and Senate offices including meeting with another of our original bill sponsors Henry Cuellar (D-TX) and Chairman of the Financial Services Committee, Jeb Hensarling.

One of my visits was with

Congresswoman Martha McSally (R-AZ-2).

She was genuinely very warm & friendly. She was the first American woman to fly in combat following the 1991 lifting of the prohibition of women in combat.

H.R. 1360 –The Seller Finance Enhancement Act is a one page Amendment to the Dodd-Frank Act keeping all the provisions of the bill but one–it changes the number of seller financed transactions a seller can have from 3 per year to 2 per month.

Passage of the one page bill will benefit several groups:

Tenant/property buyers – current renters who are currently not financeable via traditional financing can experience home ownership and it’s many benefits.

Interest tax deduction.

Stay in the home they have been in for years.

Lower monthly payments as compared to rent

Landlords – those who own more than 3 properties

Get out of the landlord business –the ability to sell their portfolio with being hampered by the shackles of the 3 property rule.

Defer capital gains due to seller financing

Retire with a better cash flow than that provided by being a landlord with all the hassels of toilets, tenants, trash, and termites.